Microsoft accounting case solution

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Microsoft accounting case solution

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This documentation is archived and is not being maintained. Microsoft IT accelerates financial close and compliance process April Article The Microsoft finance team improves efficiency using a centralized dashboard to gain insight into the financial records close and compliance process, reducing time to close and enabling cost savings through business process outsourcing.

Download Executive Summary ArticleKB, Microsoft Word file Microsoft finance teams used a mix of internally developed and external applications to manage their accounting processes and end-of-period financial records close. The use of multiple applications hindered a comprehensive Microsoft accounting case solution of the close process as the necessary data became fragmented across the application stack.

Microsoft IT developed the Controller Workspace to provide financial controllers with one location where they can oversee their financial close processes. This allows finance teams to monitor policy compliance, close processes, evaluate built-in metrics, and drill down to details.

The solution helps solve a critical challenge on how Microsoft maintains quality in the financial processes for a large and growing organization while containing costs by breaking down the barriers of legacy infrastructure and siloed internal resources.

Introduction Microsoft worldwide business with multiple layers of geographic subsidiaries and business entities generates large data volumes that overwhelmed manual update processes, created standardization issues, and increased costs as the business grew.

Every month, 16,—17, manual journal entries are created across more than business entities using several corporate accounting line-of-business LOB applications. LOB applications include individual tools for managing: Journal postings and journal reviews.

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Statutory and tax compliance across business entities. Close checklist process for monthly, quarterly, and annual tasks. Journal entry checklist process. For a financial controller to be on top of their accountability across their entities, they needed to use all these tools to sift through all the manual journal entries and drill down to get to those specific to a subsidiary in order to gain insight into the status of month-end close.

Lack of visibility into close status necessary to ensure compliance with securities laws and capital markets standards prevented Microsoft from taking advantage of the cost saving benefits of outsourcing accounting, accounts payable, and procurement business processes.

Solution Microsoft IT created the Controller Workspace solution to enable the finance teams at Microsoft with a more efficient means of accessing and analyzing financial close status. The solution addresses the following key business needs.

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Improved insight and accountability The Controller Workspace consolidates data from several corporate accounting LOB applications into a single dashboard, improving the oversight of monthly close processes and enabling accountability from top to bottom across the various close activities.

The dashboard provides quick insight into the status via stoplight color coding green for all good, yellow for coming due, red for past due to help the finance team quickly see status across all financial workflows.

Controller Workspace dashboard and map views. Real-time role-based views The solution provides a single role-based view into upstream financial LOB applications. Previously, users needed to access a variety of individual applications and portals, each of which were configured separately.Download the latest from Windows, Windows Apps, Office, Xbox, Skype, Windows 10, Lumia phone, Edge & Internet Explorer, Dev Tools & more.

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Microsoft accounting case solution

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